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All Forum Posts by: Derek Hacker

Derek Hacker has started 1 posts and replied 1 times.

General Landlording & Rental Properties

Post: Rental Property - Paying more towards principal each month?

Derek HackerPosted
  • Posts 1
  • Votes 1

Hi Everyone,

Looking for some advice on my first rental property.  Property details:

Loan Amount - $324,000

Rent - $2900/Month

Revenue/yr after PITI - $7570

The current mortgage amount is $1466 and I am paying an extra $244 per month towards the principal. I am looking to continue investing in real estate and was looking for suggestions on if I should continue paying down the loan quicker or take advantage of the extra cash flow since my renters are paying down the loan? Any advice would be greatly appreciated. 

1 Vote